The shut down comes three years after a Canadian company purchased the business.

A federal worker union is battling a bipartisan push in Congress to restart the Internal Revenue Service's controversial use of private collection agencies to pursue tax debts.

The moves are part of a recent trend of banks exiting businesses that they believe have fallen out of favor with regulators.

Community Bankers Trust (ESXB) in Richmond, Va., has named a new chief credit officer for its Essex Bank

U.S. banks today are safer, sounder, more secure, transparent, accountable and are performing their critical roles in the global economy.

Huntington Bancshares (HBAN) in the first quarter padded its litigation reserves and recorded one-time expenses related to a recent acquisition.

Mt. Gox Co., the bitcoin exchange that collapsed in February, gave up on a plan to revive itself, dealing a setback to creditors seeking the recovery of hundreds of millions of dollars in the virtual currency.

Bank of America, the second- biggest U.S. lender, swung to a surprise loss as the company booked $6 billion of costs tied to mortgage disputes.

U.S. Bancorp, the nation's biggest regional lender, posted a first-quarter profit that matched analysts' estimates as mortgage-banking revenue declined.

PNC Financial Services Group Inc., the second-biggest U.S. regional bank, said profit rose 6.5 percent, beating analysts' estimates, as expenses declined and the company set aside fewer provisions for soured loans.

Banks from New Jersey to California are going public with offerings ranging from $23 million to $223 million. The banks will use the proceeds to do everything from buy other institutions to retire debt. Following is a look.

National consumer credit default rates fell in March to the lowest post-recession rate, according to data released Tuesday.

Ginnie Mae has halted the transfer of mortgage servicing rights from Bank of America to a nonbank servicer because of missing documents. The agency is asking the top servicers for an inventory of loans with missing documents.

Unity Bancorp (UNTY) in Clinton, N.J., plans to raise up to $6 million through a rights offering.

The wealth management units of Wells Fargo and Bank of the West are looking to expand their asset-management businesses by entering the lucrative — and competitive — New York market. Both banks are opening new offices in Manhattan this year.

Robert Wilmers, chairman and CEO of M&T Bank, told shareholders at its annual meeting that times are tough for banking and that the continued delay of its Hudson City deal, and associated high costs, are disappointing. But he insisted that the deal is still worth doing.

National Penn Bancshares (NPBC) in Allentown, Pa., dropped out of the auction Tuesday afternoon after U.S. Bankruptcy Court Judge David Rice agreed to reopen bidding for First Mariner.

CARS Inc. and others in the CDFI industry hope that making financial data easier to obtain will spur more people to invest in the sector.

The most notable quotes from American Banker stories of the previous week. Readers are encouraged to add their own observations in the Comments fields at the bottom of each slide.

Poage Bankshares (PBSK) in Ashland, Ky., and an activist investor have sent competing letters to shareholders ahead of next month's annual meeting.